K\u00fcresel ekonomilerin yakla\u015f\u0131k 3 y\u0131ld\u0131r devam eden enflasyonla m\u00fccadelesinde yava\u015f yava\u015f sona yakla\u015f\u0131l\u0131yor. Hen\u00fcz bir\u00e7ok merkez bankas\u0131 para politikas\u0131 duru\u015funu de\u011fi\u015ftirmese de piyasalarda yumu\u015fama sinyalleri g\u00fcnden g\u00fcne g\u00fc\u00e7lenmeye devam ediyor.<\/p>\n
Y\u0131l\u0131n ilk yar\u0131s\u0131nda sadece Avrupa ve \u0130svi\u00e7re merkez bankas\u0131 bu kapsamda faiz indirimine giderken, T\u00fcrkiye ve Japonya’da merkez bankalar\u0131 faiz art\u0131r\u0131m\u0131 yapt\u0131.<\/p>\n
FED’\u0130N FA\u0130Z ORANI 2001’DEN BER\u0130 EN Y\u00dcKSEK SEV\u0130YEDE<\/strong><\/p>\n 2022 y\u0131l\u0131ndan itibaren y\u00fcksek enflasyonla m\u00fccadele kapsam\u0131nda s\u0131k\u0131 para politikas\u0131 izleyen Fed, bu y\u0131l\u0131n ilk yar\u0131s\u0131nda ger\u00e7ekle\u015ftirilen toplant\u0131larda politika faizinde de\u011fi\u015fikli\u011fe gitmedi.<\/p>\n \u00dclkede y\u00fcksek enflasyon kar\u015f\u0131s\u0131nda 2022’de faiz art\u0131\u015flar\u0131na ba\u015flayan Fed, Mart 2022’den bu yana 11 faiz art\u0131r\u0131m\u0131 ger\u00e7ekle\u015ftirmi\u015f ve toplamda 525 baz puanl\u0131k art\u0131\u015f yapm\u0131\u015ft\u0131.<\/p>\n Fed, politika faizini en son Temmuz 2023’te 25 baz puan art\u0131rarak 2001’den bu yana en y\u00fcksek seviyeye \u00e7\u0131karm\u0131\u015ft\u0131.<\/p>\n Banka, bu y\u0131l\u0131n ilk 6 ay\u0131nda d\u00fczenlenen Federal A\u00e7\u0131k Piyasa Komitesi (FOMC) toplant\u0131lar\u0131nda, politika faizini beklentiler dahilinde de\u011fi\u015ftirmeyerek 23 y\u0131l\u0131n en y\u00fcksek seviyesi olan y\u00fczde 5,25-5,50 aral\u0131\u011f\u0131nda sabit b\u0131rakt\u0131.<\/p>\n \u00d6te yandan, bankan\u0131n enflasyon tahminleri y\u0131l\u0131n ilk yar\u0131s\u0131nda revize edilerek bu y\u0131l i\u00e7in y\u00fczde 2,4’ten y\u00fczde 2,6’ya, 2025 i\u00e7in y\u00fczde 2,2’den y\u00fczde 2,3’e y\u00fckseltilirken, 2026 i\u00e7in ise y\u00fczde 2’de sabit tutuldu.<\/p>\n ABD’de enflasyon, ocak, \u015fubat ve mart aylar\u0131nda y\u0131ll\u0131k bazda s\u0131ras\u0131yla y\u00fczde 3,1, 3,2 ve 3,5 ile beklentilerin \u00fczerinde ger\u00e7ekle\u015fmesinin ard\u0131ndan, nisanda 3,4 ile beklentiler do\u011frultusunda ve may\u0131sta 3,3 ile beklentilerin alt\u0131nda ger\u00e7ekle\u015fti.<\/p>\n ECB’DEN 5 YILIN ARDINDAN \u0130LK FA\u0130Z \u0130ND\u0130R\u0130M\u0130<\/strong><\/p>\n ECB’nin Temmuz 2022’den itibaren art arda 10 toplant\u0131da faiz oranlar\u0131n\u0131 toplamda 450 baz puan art\u0131rmas\u0131n\u0131n ard\u0131ndan, Haziran’da yakla\u015f\u0131k 5 y\u0131l\u0131n ard\u0131ndan 25 baz puan indirim karar\u0131 verdi.<\/p>\n ECB, 3 temel politika faizinde de 25 baz puan indirim karar\u0131 vererek, refinansman faizini y\u00fczde 4,50’den 4,25’e, mevduat faizini y\u00fczde 4’ten 3,75’e ve marjinal fonlama faizini y\u00fczde 4,75’ten 4,50’ye indirdi.<\/p>\n ECB Ba\u015fkan\u0131 Christine Lagarde, bankan\u0131n haziran ay\u0131ndaki toplant\u0131s\u0131n\u0131n ard\u0131ndan yapt\u0131\u011f\u0131 a\u00e7\u0131klamada, faiz indirimi karar\u0131n\u0131n ileriye d\u00f6n\u00fck yol haritas\u0131na olan g\u00fcven ile gerek\u00e7elendirildi\u011fini ifade etti.<\/p>\n Ayr\u0131ca Lagarde, dezenflasyon s\u00fcreci i\u00e7in bankan\u0131n daha \u00e7ok veriye ihtiyac\u0131 oldu\u011funu belirterek, “Verilere ba\u011fl\u0131 kalarak a\u015fama a\u015fama devam edece\u011fiz.” ifadelerini kulland\u0131.<\/p>\n \u00d6te yandan, Avro B\u00f6lgesi’nde ocakta y\u00fczde 2,8 olan y\u0131ll\u0131k enflasyon, may\u0131sta y\u00fczde 2,6’ya geriledi.<\/p>\n BOE’N\u0130N FA\u0130Z \u0130ND\u0130R\u0130M\u0130NDE FED’E G\u00d6RE DAHA YAVA\u015e HAREKET ETMES\u0130 BEKLEN\u0130YOR<\/strong><\/p>\n S\u0131k\u0131la\u015fma d\u00f6ng\u00fcs\u00fcne Aral\u0131k 2021’de ba\u015flayan BoE, bu y\u0131l\u0131n ilk yar\u0131s\u0131nda mevcut para politikas\u0131 duru\u015funu koruyan merkez bankalar\u0131 aras\u0131nda yer ald\u0131. BoE, y\u0131l\u0131n ilk 6 ay\u0131nda da politika faizini de\u011fi\u015ftirmeyerek politika faizini piyasa beklentileri do\u011frultusunda son 16 y\u0131l\u0131n en y\u00fcksek seviyesi olan y\u00fczde 5,25’te sabit b\u0131rakt\u0131.<\/p>\n Son olarak haziran ay\u0131ndaki Para Politikas\u0131 Kurulu toplant\u0131s\u0131n\u0131n ard\u0131ndan BoE’den yap\u0131lan a\u00e7\u0131klamada, man\u015fet enflasyonun may\u0131sta y\u0131ll\u0131k y\u00fczde 3,2\u2019den 2\u2019ye geriledi\u011fi ve bunun da may\u0131sta para politikas\u0131 raporundaki tahminlere yak\u0131n oldu\u011fu kaydedildi.<\/p>\n \u00dclkede 4 Temmuz\u2019da yap\u0131lacak genel se\u00e7imlerin bankan\u0131n karar\u0131 \u00fczerinde bir etkisi olmad\u0131\u011f\u0131n\u0131n hat\u0131rlat\u0131ld\u0131\u011f\u0131 a\u00e7\u0131klamada, karar\u0131n her zamanki gibi orta vadede y\u00fczde 2’lik enflasyon hedefine s\u00fcrd\u00fcr\u00fclebilir bir \u015fekilde ula\u015f\u0131lmas\u0131 i\u00e7in gerekli g\u00f6r\u00fclen hususlar temelinde verildi\u011fi aktar\u0131ld\u0131.<\/p>\n Politika faizini A\u011fustos 2023 itibar\u0131yla y\u00fczde 5,25’e y\u00fckselten ve s\u00f6z konusu tarihten beri ayn\u0131 seviyede tutan BoE’nin faiz indirimine y\u0131l\u0131n ikinci yar\u0131s\u0131nda ba\u015flayabilece\u011fi \u00f6ng\u00f6r\u00fcl\u00fcrken, Fed’e g\u00f6re bu konuda daha yava\u015f hareket etmesi bekleniyor.<\/p>\n BOJ’DA NEGAT\u0130F FA\u0130Z D\u00d6NEM\u0130 SON BULDU<\/strong><\/p>\n Bu y\u0131l 4 para politikas\u0131 toplant\u0131s\u0131 ger\u00e7ekle\u015ftiren BoJ, oy birli\u011fiyle ocakta politika faizini y\u00fczde eksi 0,1’de sabit b\u0131rakt\u0131. Banka, mart ay\u0131ndaki toplant\u0131s\u0131nda ise 17 y\u0131l sonra ilk kez faiz art\u0131r\u0131m\u0131na giderek, politika faizini y\u00fczde eksi 0,1’den y\u00fczde 0,1’e y\u00fckseltti.<\/p>\n B\u00f6ylece BoJ, 2016’da ba\u015flad\u0131\u011f\u0131 negatif faiz politikas\u0131na son vererek, k\u00fcresel resesyon ve bor\u00e7 krizinin ard\u0131ndan devreye sokulan negatif faiz politikas\u0131n\u0131 terk eden son merkez bankas\u0131 oldu.<\/p>\n Banka, haziranda d\u00fczenledi\u011fi 2 g\u00fcnl\u00fck para politikas\u0131 toplant\u0131s\u0131n\u0131n ard\u0131ndan politika faizini de\u011fi\u015ftirmeyerek y\u00fczde 0 ila y\u00fczde 0,1 aral\u0131\u011f\u0131nda sabit b\u0131rak\u0131lmas\u0131na karar verildi\u011fi bildirildi.<\/p>\n Toplant\u0131n\u0131n ard\u0131ndan yap\u0131lan a\u00e7\u0131klamada, \u00fclke ekonomisinin baz\u0131 k\u0131s\u0131mlar\u0131n\u0131n zay\u0131f kalmaya devam etmesine kar\u015f\u0131n k\u0131smen toparland\u0131\u011f\u0131, kurumsal karlar\u0131n artmas\u0131yla \u015firketlerin sabit yat\u0131r\u0131mlar\u0131nda \u0131l\u0131ml\u0131 bir art\u0131\u015f trendi oldu\u011fu belirtildi.<\/p>\n \u00dclkede enflasyon ocakta y\u0131ll\u0131k y\u00fczde 2,2 seviyesinde bulunurken, may\u0131sta y\u00fczde 2,8’e y\u00fckseldi.<\/p>\n Bir sonraki toplant\u0131s\u0131n\u0131 temmuz ay\u0131n\u0131n sonunda yapacak BoJ’un, enflasyondaki y\u00fckseli\u015fin h\u0131z kazand\u0131\u011f\u0131 ve \u00fclke para birimi yenin son 38 y\u0131l\u0131n en d\u00fc\u015f\u00fck seviyesine geriledi\u011fi bu g\u00fcnlerde faiz art\u0131rmas\u0131 i\u00e7in uygun alan\u0131n sa\u011fland\u0131\u011f\u0131 \u00f6ng\u00f6r\u00fcl\u00fcyor.<\/p>\n SNB’DEN 2024’\u00dcN \u0130LK YARISINDA \u0130K\u0130 FA\u0130Z \u0130ND\u0130R\u0130M\u0130<\/strong><\/p>\n SNB, Mart 2024’te d\u00fczenlenen ilk toplant\u0131s\u0131nda politika faizini beklenmedik \u015fekilde 25 baz puan d\u00fc\u015f\u00fcrerek, geli\u015fmi\u015f \u00fclkelerde faiz oranlar\u0131n\u0131 d\u00fc\u015f\u00fcren ilk merkez bankas\u0131 oldu.<\/p>\n Politika faizinin sabit kalaca\u011f\u0131 beklentilerinin aksine, faiz oran\u0131n\u0131 y\u00fczde 0,25 indirerek y\u00fczde 1,50’ye indirildi\u011fini duyuran banka, “Para politikas\u0131n\u0131n gev\u015fetilmesi, son 2,5 y\u0131lda enflasyonla m\u00fccadelenin etkili olmas\u0131 nedeniyle m\u00fcmk\u00fcn olmu\u015ftur.” de\u011ferlendirmesine yer verdi.<\/p>\n SNB, \u0130svi\u00e7re para biriminin de\u011fer kazanmas\u0131n\u0131 da g\u00f6z \u00f6n\u00fcnde bulundurarak faiz indirimi karar\u0131 ald\u0131\u011f\u0131n\u0131 belirtti.<\/p>\n Martta yap\u0131lan faiz indirimi SNB’nin 9 y\u0131lda yapt\u0131\u011f\u0131 ilk faiz indirimi olurken, banka haziranda 25 baz puanl\u0131k bir faiz indirimi daha ger\u00e7ekle\u015fti.<\/p>\n B\u00f6ylece, hazirandaki toplant\u0131n\u0131n ard\u0131ndan politika faizi y\u00fczde 1,50’den 1,25’e indirildi.<\/p>\n KANADA MERKEZ BANKASI 4 YIL SONRA FA\u0130Z \u0130ND\u0130RD\u0130<\/strong><\/p>\n Kanada Merkez Bankas\u0131 (BoC), 5 Haziran’da politika faiz oran\u0131n\u0131 beklentiler do\u011frultusunda 25 baz puan d\u00fc\u015f\u00fcrerek y\u00fczde 4,75’e \u00e7ekti.<\/p>\n Bankadan yap\u0131lan a\u00e7\u0131klamada, son verilerin enflasyonun y\u00fczde 2 hedefine do\u011fru hareket etmeyi s\u00fcrd\u00fcrece\u011fine olan g\u00fcveni art\u0131rd\u0131\u011f\u0131, ancak enflasyon g\u00f6r\u00fcn\u00fcm\u00fcne y\u00f6nelik risklerin devam etti\u011fi aktar\u0131ld\u0131.<\/p>\n BoC, bu ay politika faizini d\u00fc\u015f\u00fcrerek, 4 y\u0131l sonra ilk faiz indirimini ger\u00e7ekle\u015ftirmi\u015f oldu. Banka ayr\u0131ca, enflasyonu dizginlemek i\u00e7in agresif faiz art\u0131\u015flar\u0131 sonras\u0131nda G7 \u00fclkeleri aras\u0131nda politika gev\u015fetmeye ba\u015flayan ilk merkez bankas\u0131 olarak dikkati \u00e7ekti.<\/p>\n TCMB 2024’TE \u0130K\u0130 FA\u0130Z ARTIRIMI YAPTI<\/strong><\/p>\n TCMB izledi\u011fi s\u0131k\u0131 para politikas\u0131 do\u011frultusunda 2024’\u00fcn ilk yar\u0131s\u0131nda iki kez faiz art\u0131r\u0131m\u0131 karar\u0131 ald\u0131.<\/p>\n T\u00fcrkiye’nin enflasyon verilerine bak\u0131ld\u0131\u011f\u0131nda, ocakta y\u00fczde 64,86 olarak belirlenen y\u0131ll\u0131k enflasyon may\u0131s ay\u0131nda 75,45’e y\u00fckseldi.<\/p>\n Sene ba\u015f\u0131ndan itibaren y\u00fckseli\u015f g\u00f6steren y\u0131ll\u0131k enflasyon verilerinin ard\u0131ndan banka, Aral\u0131k 2023’te y\u00fczde 42,50 olan politika faizini ocak ay\u0131nda 250 baz puan art\u0131rarak y\u00fczde 45’e y\u00fckseltti.<\/p>\n Martta da ikinci faiz art\u0131r\u0131m\u0131na giderek 500 baz puan art\u0131\u015fla politika faizini y\u00fczde 50’ye \u00e7\u0131karan banka, y\u0131l\u0131n ilk yar\u0131s\u0131nda politika faizi olan bir hafta vadeli repo ihale faiz oran\u0131n\u0131 de\u011fi\u015ftirmeyerek y\u00fczde 50’de sabit tuttu.<\/p>\n\n <\/p>\n Kaynak :\u00a0http:\/\/www.milliyet.com.tr\/ekonomi\/merkez-bankalari-yilin-ilk-yarisinda-faizde-degisiklige-gitti-7148991<\/span><\/p>\n","protected":false},"excerpt":{"rendered":" D\u00fcnya genelinde enflasyon endi\u015fesi y\u0131l\u0131n ilk yar\u0131s\u0131nda zay\u0131flarken, \u00f6nemli merkez bankalar\u0131ndan baz\u0131lar\u0131 uzun bir aran\u0131n ard\u0131ndan faiz oranlar\u0131nda de\u011fi\u015fikli\u011fe gitti.<\/p>\n","protected":false},"author":1,"featured_media":86163,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[49,41,3611,5413,5412],"class_list":["post-86162","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ekonomi","tag-enflasyon","tag-faiz","tag-faiz-indirimi","tag-para-politikasi","tag-yuzde-2"],"_links":{"self":[{"href":"https:\/\/kamucalisani.net\/index.php\/wp-json\/wp\/v2\/posts\/86162","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kamucalisani.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kamucalisani.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kamucalisani.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/kamucalisani.net\/index.php\/wp-json\/wp\/v2\/comments?post=86162"}],"version-history":[{"count":1,"href":"https:\/\/kamucalisani.net\/index.php\/wp-json\/wp\/v2\/posts\/86162\/revisions"}],"predecessor-version":[{"id":86164,"href":"https:\/\/kamucalisani.net\/index.php\/wp-json\/wp\/v2\/posts\/86162\/revisions\/86164"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/kamucalisani.net\/index.php\/wp-json\/wp\/v2\/media\/86163"}],"wp:attachment":[{"href":"https:\/\/kamucalisani.net\/index.php\/wp-json\/wp\/v2\/media?parent=86162"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kamucalisani.net\/index.php\/wp-json\/wp\/v2\/categories?post=86162"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kamucalisani.net\/index.php\/wp-json\/wp\/v2\/tags?post=86162"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}